~~BTC Bubble.. when investors, professionals, e
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Posted On: 08/06/2017 12:37:46 PM
~~BTC Bubble..
when investors, professionals, etc talk about cryptocurrency being a bubble, i agree expect for one thing:
..from what i can tell.. XRP seems to be separate from the rest and not a bubble. its like the dot com bubble. billions were lost, except a few companies which survived.
ask yourself, or better yet.. google this, "why is BTC worth so much?"
even BTC sites can not directly answer why the price is so high. in fact, it really seems to be like the Tulip Mania i talked about several posts ago in which DEMAND drives the price even though people dont know why they want more BTC.
i compare it to stocks. you buy $100 of ABC @ .0001, but then the price jumps to .0005. You get that feeling, "i need more! this is going up!".. so you buy more.
same with BTC. investors see the price going up, so they buy more thinking, "I better buy now before it gets too high."
BTC is definitely a bubble. there is no logical reason for this price. really think about it, lets say you just spend $20,000 of your life savings on BTC. yay! you now own 6 Bitcoins!... now what? you cant spend it. you cant even hold it. you cant trade it for a new car, you cant even even physically see it. simply put, you have the expectation that the item can be resold to someone else for a higher price later.
More than likely it will keep going up and up and up until eventually (years) it crashes and never recovers. this will be followed by a movie called, "The Crash" staring Tom hanks about the BTC Bubble of 2025.
when investors, professionals, etc talk about cryptocurrency being a bubble, i agree expect for one thing:
..from what i can tell.. XRP seems to be separate from the rest and not a bubble. its like the dot com bubble. billions were lost, except a few companies which survived.
ask yourself, or better yet.. google this, "why is BTC worth so much?"
even BTC sites can not directly answer why the price is so high. in fact, it really seems to be like the Tulip Mania i talked about several posts ago in which DEMAND drives the price even though people dont know why they want more BTC.
i compare it to stocks. you buy $100 of ABC @ .0001, but then the price jumps to .0005. You get that feeling, "i need more! this is going up!".. so you buy more.
same with BTC. investors see the price going up, so they buy more thinking, "I better buy now before it gets too high."
BTC is definitely a bubble. there is no logical reason for this price. really think about it, lets say you just spend $20,000 of your life savings on BTC. yay! you now own 6 Bitcoins!... now what? you cant spend it. you cant even hold it. you cant trade it for a new car, you cant even even physically see it. simply put, you have the expectation that the item can be resold to someone else for a higher price later.
More than likely it will keep going up and up and up until eventually (years) it crashes and never recovers. this will be followed by a movie called, "The Crash" staring Tom hanks about the BTC Bubble of 2025.
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There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
Disclaimer:
As used herein, the terms "You" and "Your" shall mean you, individually, the reader, and each other party on whose behalf you may use the contained information at any time.
All references to "My", "I", and “The writer of the above post” shall refer to the creator of the username Joey68.
Do NOT invest unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges.
There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. I assume no responsibility for your trading and investment results. You should NOT rely on the information in the above post to make any decision or take any action.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are OPINION and NOT fact and are for entertainment purposes only. Do your own research and make your own decisions based on your own conclusions.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are NOT advice, and are NOT designed to substitute the expertise and judgment of a professional. It is your responsibility to seek investment advice during all stages of your investments. It is your responsibility to evaluate the accuracy, completeness and usefulness of the information in the above post.
I am NOT a professional.
I do NOT work for you.
My posts are NOT investment advice. I am not paid to post.
There is no correlation between the number of posts I write per day and your assumed success of a company.
It is NOT my responsibility to inform you of my own personal investment decisions.
It is NOT my responsibility to inform you when it is time for you to buy, hold, and/or sell a position.
I have no control over, and am not responsible for the actions of others who copy, store, edit, change, prepare any derivative work of or alter in any way any of the content provided in my posts.
Errors and Omissions expected. The writer of the above post accepts no liability or responsibility for any errors or omissions contained in the above post or contained within this Disclaimer.
The writer of the above post shall NOT accept any liability for the accuracy or completeness of the information contained in the above post, for any reliance placed by any person on the information contained in the above post, or for any damage or loss, however caused, in connection with the use or reliance on any information contained in the above post.
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There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
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